Crypto Exchange Suffers Huge Hack as Ethereum Wallet Drains Funds

Singapore-based cryptocurrency exchange BingX’s estimated loss from a suspected hack on Sept. 20 has now exceeded $52 million, which is double the previously reported $26 million. Earlier reports from blockchain security firm PeckShield identified one Ethereum wallet linked to the attack, which received $26.7 million in assets from BingX. The total loss has increased as further investigations uncovered significant damages across multiple blockchain networks. “As more wallets are identified, the total loss grows. Initial estimates, like $13 million, were likely incomplete, but updates from forensics firms, now reporting figures like $43 million, show a clearer picture,” said Hakan Unal, senior